KiwiCover

Secure	Vulnerable
AAA (Exceptionally Strong)	BB (Moderately Weak)
AA (Very Strong)	B (Weak)
A (Strong)	CCC (Very Weak)
BBB (Good)	CC (Extremely Weak)
	C (Distressed)

The Multi-Benefit Discount levels and eligibility criteria are summarised below.

Eligible Policies

The Multi-Benefit Discount only applies to AIA Living insurance policies and benefits (e.g. Life Cover, Critical Conditions, Progressive Care, Income Protection, Total Permanent Disablement, Family Protection).

AIA Private Health policies are not eligible for the Multi-Benefit Discount.

Qualifying for the Discount

The discount is determined for each person separately. To qualify for the discount, you must have life insurance plus at least one other eligible benefit, subject to minimum cover criteria specified below.

Existing Sovereign TotalCareMax and AIA Real benefits may count towards the eligibility criteria required to qualify for the discount, but these policies will not receive the discount.

For the purposes of determining eligibility, benefits are grouped into the following categories:

Category	Benefits
Mandatory Category	Life insurance $100,000+
Optional Category A	Trauma insurance $75,000+
Optional Category B	Permanent disability insurance $75,000+
Optional Category C	Income protection insurance $24,000+ per annum

Mandatory Category

Life insurance of at least $100,000 comprised of:

a. Life Cover; or
b. Family Protection; or
c. Accidental Death; or
d. A combination of any of the above benefits.

For the purposes of determining eligibility based on Family Protection, the amount of Family Protection cover will be converted to an equivalent lump sum amount. For example, Family Protection cover of $1,033 per month for a fixed term of 10 years is equivalent to a lump sum of $100,000.

Optional Category A

Trauma insurance of at least $75,000 comprised of:

a. Critical Conditions; or
b. Progressive Care; or
c. A combination of the above benefits.

Optional Category B

Permanent disability insurance of at least $75,000 comprised of:

a. Total Permanent Disablement.

Optional Category C

Income protection insurance of at least $24,000 per annum comprised of:

a. Income Protection; or
b. Mortgage Protection; or
c. Start-Up Income Protection; or
d. A combination of any of the above benefits.

Determining the Discount Level

The level of the discount will be determined as follows:

Categories	Discount
Mandatory Category + 1 Optional Category	10.0%
Mandatory Category + 2 Optional Categories	12.5%
Mandatory Category + 3 Optional Categories	15.0%

Examples

Assuming the minimum cover criteria are met, the following discount rates would apply:

• Life Cover + Critical Conditions: 10%.
• Life Cover + Income Protection: 10%.
• Family Protection + Progressive Care: 10%.
• Life Cover + Critical Conditions + Income Protection: 12.5%.
• Life Cover + Critical Conditions + Total Permanent Disablement + Income Protection: 15%.
• Critical Conditions + Income Protection: No discount (No benefits from the Mandatory Category).

Applying the Discount

The discount will be applied to all eligible AIA Living benefits, including other benefits that do not count towards the eligibility criteria such as Redundancy and Waiver of Premium.

The discount will not be applied to the policy fee (if any) or per mille premium loadings (if any).

Before your policy is issued, AIA will confirm the level of discount that you are eligible for. Your premiums will be adjusted to reflect any changes in this discount.

If the amount of cover and/or number of benefits you hold with AIA changes, AIA will re-calculate the discount and adjust your premium for your next billing due date.

Please refer to the Multi-Benefit Discount eligibility rules available at aia.co.nz for more information.

AIA reserves the right (subject to any applicable law) to cancel or modify the Multi-Benefit Discount for new and/or existing customers by posting updated Terms and Conditions at www.aia.co.nz. If AIA stops offering the discount to existing customers, you will be notified at least 90 days before the change.

AIA Vitality members can now earn an Apple Watch Series 9 (GPS) in full by reaching their weekly physical activity targets for 24 months.

How it Works

1. Activate the Apple Watch Benefit in the AIA Vitality app and complete a credit check with etika.
2. Purchase an Apple Watch Series 9 online from the Apple Store using the supplied Apple Store Gift Code. The supplied Apple Store Gift Code will enable you to purchase an Apple Watch Series 9 (GPS), 41mm (RRP $749). You may pay the difference if you would like to purchase a higher priced Apple Watch.
3. Receive your Apple Watch Series 9 and link it to your AIA Vitality account to start the benefit.
4. Achieve your weekly physical activity targets every month to earn your Apple Watch Series 9 over 24 months. The more physical activity targets you reach each month, the less your repayment will be. AIA Vitality members really can earn an Apple Watch Series 9 just by being active!

Weekly physical activity target(s) you achieve each calendar month	Your repayment to etika	AIA Vitality will pay
0	$31*	$0
1	$26	$5
2	$26	$10
3	$16	$15
4/5	$0	$31*

*The last (24^th) monthly payment will be billed at $36. AIA Vitality will cover the full $36 in the last month if all physical activity targets are met.

Availability

The Apple Watch Benefit is only available to AIA Vitality members.
The Apple Watch Benefit is only available on the iOS version of the AIA Vitality app.
The Apple Watch Benefit can only be activated once every 24 months.

Eligibility

All AIA Vitality members who hold New Zealand citizenship, permanent residence or an acceptable New Zealand work visa are eligible to apply for this benefit.
Members who are not New Zealand citizens or permanent residents may have to supply further information upon direct request from etika to complete the application.

Learn more about AIA Vitality and how to join ›

Apple is not a participant in or sponsor of this promotion. Apple Watch is a registered trademark of Apple Inc. All rights reserved. Apple Watch Series 9 requires an iPhone Xs or later with iOS 17 or later. Available only to current, activated AIA Vitality members who opt into Active Rewards and activate the Apple Watch Benefit on an iOS device with the AIA Vitality app installed. Member needs to apply for a $749 interest free loan with etika Australia Loan SPV Pty Ltd (etika). Loan term is 24 months. Loan amount is $749, the current RRP (as at October 2023) of an Apple Watch Series 9 (GPS), 41mm. AIA Vitality will cover all administration and standard interest charges on the loan. Member must achieve all weekly Active Rewards physical activity targets each calendar month for AIA Vitality to make all loan repayments on member’s behalf. etika will directly debit the member the difference between the required repayment amount (as per the loan terms), and the amount paid by AIA Vitality based on member’s achieved physical activity targets. Member cannot select any other $5 Active Rewards while participating in the Apple Watch Benefit. Member will receive an Apple Store Gift Code ($749 value) to purchase an Apple Watch Series 9 (GPS), 41mm online at the Apple Store. If different model or add-on accessories are also added to the cart, member must pay the difference at the time of purchase.

Minimum commencement age	16
Maximum commencement age	55 (60 for certain occupations)
Expiry age	65
Benefit type	Own Occupation

	Total Permanent Disablement Benefit Receive a lump sum benefit payment if you become totally incapacitated through illness or injury, and you are considered unlikely to ever be able to resume work. Receive a partial permanent disablement benefit of 25% of your total permanent disablement benefit up to a maximum of $100,000, if you suffer a partial permanent disability as detailed in the policy.
	Financial and Legal Advice Benefit After you receive a claim payment, get reimbursed for up to $2,500 (including GST) for financial planning fees paid to an accredited adviser or for legal advice from a legal professional approved by AIA.
	Assistance Benefit Receive reimbursement of up to $15,000 (including GST) to cover the cost of purchasing specialist equipment, completing home alterations or modifications to your vehicle which are necessary as a result of the illness or accident leading to a claim.
	Counselling Benefit Get reimbursed for up to $2,500 (including GST) for the cost of a psychiatrist or psychologist consultation and/or counselling where the support treatments and/or consultations directly relate to a claim under the Total Permanent Disablement Benefit.
	Special Events Increase Facility You can increase the amount of cover under your policy following certain life events, without any medical questions, examinations or tests. A premium will be applied to the additional cover.
	Future Insurability Benefit Increase your Total Permanent Disablement Benefit by up to 20% (subject to a maximum increase of $200,000) at every third policy anniversary without the need to provide further medical evidence.
	Suspension of Cover Benefit Flexibility to suspend your cover for up to 12 months if you: Go on parental leave; Go on leave without pay for any reason; Become unemployed or redundant; Experience a reduction in pay of 20% or more (comparing the most recent payslip against a previous payslip from the same year); or Are self-employed and experience a reduction in revenue of 30% or more (by comparing one month’s revenue against the same month for the previous year). No premium will be payable during the period that cover is suspended. No claim will be payable for any claim event that occurs during the period that cover is suspended.
	Premium Conversion Facility At any time before age 65, you can convert all or part of your Total Permanent Disablement Benefit from a Rate for Age premium structure to a Level premium structure without needing to produce further medical evidence.

	Financial Strength The policy is underwritten by AIA New Zealand Limited, New Zealand’s largest life insurer. AIA New Zealand Limited has an AA (Very Strong) financial strength rating from Fitch Ratings.
	24 x 7 Worldwide Cover Whether you’re at home, travelling or working anywhere for any period (including overseas, even if you move overseas permanently), you remain insured.
	Automatic Enhancement If any change is made to the underlying AIA Living policy in the future, and that change would be favourable to you, then the Enhancement Pass Back Benefit means that the enhanced change will automatically be applied (passed back) to your policy. Conditions apply.
	Free-Look Period If at any time during the 15 days following receipt of your policy you do not wish to continue with your cover (for whatever reason at all), you can return your policy for a full refund of all premiums paid.

Permanent Disability Insurance

What is Permanent Disability Insurance?

AIA Living Total Permanent Disablement

Learn More

Benefits

Total Permanent Disablement Benefit

Financial and Legal Advice Benefit

Assistance Benefit

Counselling Benefit

Special Events Increase Facility

Future Insurability Benefit

Suspension of Cover Benefit

Premium Conversion Facility

Policy Features

Financial Strength

24 x 7 Worldwide Cover

Automatic Enhancement

Free-Look Period

Brochure

Policy Wording

AIA Vitality

FAQs